Eternity Law International — News — Obtaining of investment services license in Bulgaria

Obtaining of investment services license in Bulgaria

Published:
May 25, 2021

Our experts will help you to get your own license as quickly and effortlessly as possible, allowing you to offer on the market and provide consumers with investment services on the territory of Bulgaria. As you know, Bulgaria is a member state of the European Union, therefore, this license gives you the opportunity to offer and distribute your services in other EU states using the passport system. In addition, you will be able to work also all over the world.

Bulgarian license is a set of advantages, including the following:

  • a jurisdiction with an excellent international reputation;
  • you get the opportunity to become a client of any profitable and reputable bank or PSP;
  • the presence of full rights, officially authorizing to distribute their services and conduct appropriate marketing campaigns in the EU using the passport system;
  • the license of the European Union can be integrated into a group that conducts its business abroad. This will help you properly manage customer flows;
  • labor costs and general overhead costs in the Bulgarian jurisdiction are significantly lower than in Malta or Cyprus.
  • the corporate tax rate offered by the Bulgarian jurisdiction is only 10%.

Bulgaria provides the opportunity to become the owner of a license that will belong to one of the following types. Each of these categories corresponds to and reflects the provisions of the MiFID II directive.

Type 1

Such a license is required for investment companies that do not own clients’ monetary assets or financial instruments. In addition, these firms do not provide services on behalf of their organization.

Type 2

Licenses in this category are best suited for those who work with Forex / CFD transactions. This license permit is intended for investment organizations that do not carry out trading operations at their own expense, however, have financial instruments and monetary assets of their clients. In addition, such companies provide portfolio management services.

To work with this license, you need execution venues or liquidity providers.

Type 3

The third type of license acts as the highest level of authorization that may be required by self-employed investment firms operating as liquidity providers. In addition, such firms have access to largely unlimited trading rights.

For each category of licenses, the amount of the authorized capital, which must be repaid before the application is submitted, is 25%. After the relevant authorities approve your application, the remaining interest is paid in a period of two weeks. Each of the licenses requires three employees, a resident manager and a local office.

Our support and professional help

Our specialists give lawful exhortation on picking the best and most appropriate choice for every particular circumstance, and survey the practicality of this thought.

We will furnish you with exhaustive help with recording an application and in the suitable filling and arrangement of the important documentation. We won’t just present your application, however we will likewise furnish you with full help in keeping up ordinary contacts with the Commission managing monetary administrations in Bulgaria. This will help guarantee that your circumstance is settled rapidly and proficiently.

While the administrative body is inspecting your application, we will help you in setting up an operational office inside Bulgaria, specifically with all safety efforts. Likewise, we can completely screen you with respect to issues identified with work force that are needed in Bulgaria.

The term for obtaining a license is up to 6-7 months after the application is submitted. If you have any questions, please contact us.

For details: Julia.z@eternitylaw.com / Telegram @juliazhil

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